“History for more than one winter”: Bloomberg revealed the duration of the energy crisis in Europe

MOSCOW, Sep 23 — PRIME. The energy crisis in Europe will drag on for at least two years, Bloomberg reported, citing analysts surveyed.

According to experts, the situation will not change without Russian gas and oil.

According to specialists from the consulting company Energy Aspects, a devastating energy crisis for Europe could last until the end of 2023 and even longer, since demand in the region is high and supply is limited.

“This is not a story for one winter,” Amrita Sen, the firm’s chief oil analyst, said in an interview with Bloomberg television. Russia, according to her, is needed in order to balance the market, and not only next winter, but also next.
After the imposition of anti-Russian sanctions, spot prices for natural gas in the region rose sharply again. In some European countries, the authorities have taken controversial measures in the energy sector. Thus, the German government nationalized Uniper, the largest importer of this fuel.

In the fourth quarter of 2022, new price fluctuations in the oil market are expected: they could be provoked by fears of a possible recession and the consequences of COVID restrictions in China, Sen said.

Western countries have imposed unprecedented economic sanctions against Russia after the start of a special operation in Ukraine. Some of the measures also affect the energy sector. These restrictions led to a record rise in energy prices in Europe, exacerbating the energy crisis in the region. Europe is faced with a shortage of fuel and a sharp rise in prices for it